Husky Receives White Rose Development Approval

Husky Energy Inc. announced that the Government of Newfoundland and Labrador, as well as the Federal Government, have accepted the Canada Newfoundland Offshore Petroleum Board's Report to approve the White Rose Oilfield Project. Husky Energy is the operator of the White Rose oilfield through its wholly owned subsidiary, Husky Oil Operations Limited.

"Husky is very pleased to have received government approval of our proposed development plan for the White Rose Project. This approval is a very important step for the project," said Mr. John Lau, President and Chief Executive Officer of Husky Energy. "We will now carefully review the conditions contained in the Decision Report. This review, plus the progress on the contracting, will allow Husky and its partner to make a final decision on moving forward with White Rose."

Husky Energy is a major stakeholder in the East Coast oil and gas sector with an interest in 13 significant discovery areas in the Jeanne D'Arc Basin and nine exploration licenses. Husky holds ownership positions in White Rose (72.5%) and in Terra Nova (12.51%).